Press Release Highlights:
- Drilling continues to intersect mineralization beyond
the footprint of the DeLamar Deposit to the southeast (“SE”) of
previously reported results, almost no drilling has taken place
beyond the drill intercepts announced today highlighting the
continued potential for resource expansion
- Significant drill results from the Sullivan Gulch Zone
within the DeLamar Deposit include two holes spaced 150 metres
(“m”) apart, grading 2.16 g/t gold equivalent (“AuEq”) over 220.98
m (IDM-18-014), and 1.74 g/t AuEq over 198.12 m
(IDM-18-011)
- The two drill holes are located 150 m from one another,
are on section approximately 100 m from the most recently released
holes (see news release dated May 10th, 2018) and both
holes were terminated in mineralization
- Approximately 64% and 59% of the two drill
intersections referenced above occurred outside of the existing
inferred resource envelope boundary, clearly showing the potential
for resource expansion
- Several select sections of this zone contain
significant high-grade gold-silver intercepts, including: 4.14 g/t
AuEq over 73.15 m, 8.95 g/t AuEq over 10.67 m , 7.49 g/t AuEq over
12.19 m, and 26.73 g/t AuEq over 1.52 m
- This area in SE Sullivan Gulch was never mined by
previous operators
- Three drill rigs are currently active on the DeLamar
Project, including one drill rig drilling the Florida Mountain
Deposit, situated 8 km to the east of the DeLamar
Deposit
VANCOUVER, British Columbia, June 25, 2018 (GLOBE NEWSWIRE) --
Integra Resources Corp. (TSX-V:ITR) (OTCQX:IRRZF)
(the “Company” or “Integra”) is pleased to announce initial assay
results from a further 3 drill holes completed in its 2018 drill
program on the DeLamar Gold and Silver Project (“DeLamar, or the
“Project”), located in the historic Owyhee County mining district
in south western Idaho, U.S.A. This second round of drill results
released today continues to demonstrate continuity of
mineralization within the DeLamar Deposit, with large zones of
lower-grade gold-silver and selected higher-grade intercepts
intersected. Today’s results are from 1,060 m of drilling of the
roughly 20,000 m exploration program currently underway in
2018.
“We are very excited by the strong potential for resource
expansion at DeLamar, as evidenced by today’s extensional drilling
results. Our technical team is seeing excellent continuity on the
southeastern extension of the DeLamar Deposit, in the Sullivan
Gulch Zone. This was showcased today by both very large lower-grade
gold-silver intercepts, and by selected higher-grade gold-silver
intercepts over 10 m in width” stated George Salamis, President and
CEO of Integra Resources. “This is the first systematic drilling
ever undertaken in the Sullivan Gulch zone on the southeastern end
of the DeLamar Deposit trend. The positive results highlighted in
today’s news release, stepping out 100 m south east of the previous
intercepts reported earlier last month, are hosted in an area where
there has been very little past drilling and no past mining. Based
on the findings of these last two sets of drill results,
gold-silver mineralization at DeLamar appears to remain open in
multiple directions.”
DeLamar Drill Results
Summary
The following table highlights selected
intercepts from this set of drill results. Individual composites
are disclosed as uncapped.
Past drilling by Kinross was conducted to an
average depth of 100 m in the Sullivan Gulch area of the Deposit,
whereas current drilling is testing in excess of 250 m vertical
with results thus far demonstrating excellent mineralization
continuity.
Drill Hole
Number |
From
(m) |
To
(m) |
g/t Au |
g/t Ag |
g/t AuEq(2) |
Interval
(m) (1) |
IDM-18-011 |
68.58 |
266.70 |
0.64 |
93.63 |
1.74 |
198.12 |
including |
73.15 |
83.82 |
3.23 |
487.40 |
8.96 |
10.67 |
Including |
135.64 |
147.83 |
2.12 |
456.81 |
7.49 |
12.19 |
IDM-18-012 |
303.28 |
321.56 |
0.76 |
40.20 |
1.23 |
18.28 |
IDM-18-014 |
175.26 |
396.24 |
1.25 |
77.19 |
2.16 |
220.98 |
Including |
207.26 |
208.79 |
21.20 |
469.68 |
26.73 |
1.52 |
Including |
220.98 |
240.79 |
2.63 |
94.17 |
3.74 |
19.81 |
Including |
248.41 |
271.27 |
2.11 |
224.50 |
4.75 |
22.86 |
Or combined as |
198.12 |
271.27 |
2.34 |
152.74 |
4.14 |
73.15 |
(1) Downhole thickness; true width varies depending on
drill hole dip; most drill holes are aimed at intersecting the vein
structures close to perpendicular therefore true widths are close
to downhole widths (approximately 85% conversion ratio)
(2) Gold equivalent = g Au/t + (g Ag/t ÷ 85)
To view a cross section of the DeLamar Deposit
relevant to today’s results, please click on the following
link:
https://www.integraresources.com/site/assets/files/2572/idealized_cross_section_june_25.pdf
To view a plan map of the current drill program,
please click on the following link:
https://www.integraresources.com/site/assets/files/2572/plan_map_-_delamar.pdf
DeLamar Exploration Ongoing
Within the large lower-grade intercepts released
today, the sections hosting more intense veining, brecciation and
silica alteration result in higher-grade intervals, as shown in the
table above (ie. 4.14 g/t AuEq over 73.15 m, 8.96 g/t AuEq over
10.67 m, and 7.49 g/t AuEq over 12.19 m). These drill results
represent the thickest and, selectively, the highest-grade
gold-silver intercepts drilled to date at DeLamar by Integra.
Further drilling will be required to determine if the higher-grade
sections reported today relate to past high-grade gold-silver mined
underground in the 1880’s.
Today’s drill results include thick zones of
gold-silver mineralization hosted in Miocene-age altered felsic
volcanic units (porphyritc rhyolite and quartz latite). Sitting
stratigraphically above these units, the upper banded rhyolite unit
appears to have behaved as a “trap rock” barrier (aquitard) for
mineralizing fluids circulating within the epithermal system at
DeLamar.
The latest fence of holes (IDM-18-011, 012 and
014) on the southeast extension of the DeLamar trend (the Sullivan
Gulch Zone) continue to highlight a zone of variably oxidized,
intense gold-silver mineralization averaging 100-200 m thick and
dipping steeply to the southwest. In this area of Sullivan Gulch,
the zone remains entirely open to the southeast and in the down dip
direction. As was the case with drill hole IDM-18-007 reported last
month, two of the drill holes reported today were terminated in
mineralized rock grading more than 1 g/t AuEq. The holes in
question that terminated in +1 g/t AuEq material were both drilled
using a reverse circulation (“RC”) drill rig and were unable to be
drilled deeper beyond the bottom of economic mineralization,
indicating that the mineralized zone could in fact be thicker than
reported. As previously stated, the porphyritc rhyolite and upper
quartz latite units appear to be the favored hosts to gold-silver
mineralization.
Since the start of the 2018 campaign, the
Company has drilled roughly 8,900 m in 33 drill holes, with assays
pending from a further 21 drill holes beyond what was released
today.
This year’s $10 million exploration program
includes an estimated 20,000 m of RC and diamond drilling. The
proposed drill meterage will be divided roughly equally between the
DeLamar and Florida Mountain Deposits. As highlighted in the news
release dated June 14, 2018, drilling has commenced at Florida
Mountain, and will continue throughout the summer months into Q3 of
this year.
Sampling and QA/QC
Procedure
Thorough QA/QC protocols are followed on the
project including insertion of duplicate, blank and standard
samples in the assay stream for all drill holes. The samples are
submitted directly to American Assay Labs in Reno, Nevada for
preparation and analysis. Analysis of gold is performed using fire
assay method with atomic absorption (AA) finish on a 1 assay ton
aliquot. Gold results over 5 g/t are rerun using a gravimetric
finish. Silver analysis is performed using ICP for results up to
100 g/t on a 5 acid digestion, with a fire assay, gravimetric
finish over 100 g/t silver.
Qualified Person
The scientific and technical information
contained in this news release has been reviewed and approved by
Gary Edmondo of Reno, Nevada, who serves as Integra’s Chief
Geologist, and is a "qualified person" within the meaning of
National Instrument 43- 101 – Standards of Disclosure for Mineral
Projects.
About Integra Resources
Integra Resources Corp. is a development-stage
company engaged in the acquisition, exploration and development of
mineral properties in the Americas. The primary focus of the
Company is the advancement of its DeLamar Project, consisting of
the neighbouring DeLamar and Florida Mountain Gold and Silver
Deposits in the heart of the historic Owyhee County mining district
in south western Idaho. The first exploration program in over 25
years is currently underway on the DeLamar Project with more than
20,000 metres planned for 2018. The management team comprises the
former executive team from Integra Gold Corp.
ON BEHALF OF THE BOARD OF DIRECTORS
George Salamis
President, CEO, and Director
CONTACT INFORMATION
Corporate Inquiries: Chris Gordon,
chris@integraresources.com
Company website: www.integraresources.com
Office phone: 1 (604) 416-0576
This news release contains "forward-looking
information" and "forward-looking statements" (collectively,
"forward-looking statements") within the meaning of the applicable
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relate, among other things, to: statements about the estimation of
mineral resources; magnitude or quality of mineral deposits;
anticipated advancement of mineral properties or programs; future
operations; future exploration prospects; the completion and timing
of mineral resource estimates; the length of the current market
cycle and requirements for an issuer to survive in the current
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These forward-looking statements are based on
reasonable assumptions and estimates of management of Integra at
the time such statements were made. Actual future results may
differ materially as forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of Integra to
materially differ from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors, among other things, include: possible
variations in mineralization, grade or recovery rates; actual
results of current exploration activities; actual results of
reclamation activities; conclusions of future economic evaluations;
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conditions; fluctuations in securities markets; fluctuations in
spot and forward prices of gold, silver, base metals or certain
other commodities; fluctuations in currency markets (such as the
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accidents, unusual or unexpected formations pressures, cave-ins and
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and hazards; the presence of laws and regulations that may impose
restrictions on mining; employee relations; relationships with and
claims by local communities and indigenous populations;
availability of increasing costs associated with mining inputs and
labour; the speculative nature of mineral exploration and
development (including the risks of obtaining necessary licenses,
permits and approvals from government authorities); and title to
properties. Although the forward-looking statements contained in
this news release are based upon what management of Integra
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Integra cannot assure its shareholders that actual results will be
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